ETview in reverse merger with First SBS

ETView has developed a tracheoscope.

Tracheoscope developer ETView Ltd. has signed an agreement to make a reverse merger with stock market shell First SBS Holdings Ltd. (TASE: FRSB-L). First SBS will allot 75.6% of its shares to ETView shareholders for full ownership of the company.

Based on a market cap of NIS 6.2 million for First SBS, ETView has a company value of about NIS 8.2 million. The deal is subject to ETView raising $2-3 million in a private placement.

RELATED ARTICLES

First SBS will lend ETView $500,000, which if the deal is not closed, will be converted into ETView shares at a company value NIS 20 million. The merged company will allot 4.25% of its shares to First SBS controlling shareholder Upswing Capital Ltd., and will make a one-time payment of NSI 3.6 million for consultancy services from Upswing.

In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content